SINGULUS TECHNOLOGIES AG Reports Financial Reorganization and Forecast Correction

On July 25, 2024, SINGULUS TECHNOLOGIES AG's Executive Board will update the Annual General Meeting on key financial aspects. Triumph Science and Technology Group Co. Ltd., the largest shareholder, committed to providing necessary liquidity until March 31, 2025. Despite ongoing negotiations with Triumph, no agreement has been reached, causing concerns over upcoming payment obligations.

In the first half of 2024, SINGULUS recorded orders worth €52.3 million and had an order backlog of €70.4 million as of June 30, 2024. Turnover reached €40.7 million, with an EBIT of €1.2 million. Updated forecasts predict sales of €95.0 million to €105.0 million for the year, aiming for an EBIT of €3.0 million to €6.5 million.

Additional details will be available on SINGULUS TECHNOLOGIES AG's website on the Annual General Meeting documentation page.